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Nasdaq Sank 7.1% Last Week as Investors
Continued to Fret Over Corporate Profits

Updated Feb. 11, 2001 12:01 a.m. ET

Last Week

Nasdaq Gives Up Gains: Stocks continued to lose ground as investors worried about weakening corporate profits, particularly in the technology sector. The Nasdaq Composite Index plunged 7.1% last week, leaving it unchanged for the year and erasing all of its January gains. The Dow Jones Industrial Average lost 0.8% last week, leaving it down 0.1% for the year.

Pink Slips Continue:Motorola
plans to cut as many as 4,000 jobs by the end of the year, its third round of layoffs in 10 weeks.
Verizon
said it plans to cut 6,000 jobs.

Briefly:Lucent Technologies
is being investigated by the SEC over its accounting practices relating to $679 million in annual revenue ... Worker productivity rose at a 2.4% rate in the fourth quarter of 2000, a slower pace than in the previous two quarters.

This Week

Economy Watch: The January consumer-price index will be reported on Friday, along with last month's housing starts. January retail and auto sales reports will be released Monday.